OKX Ventures and Korea Investment & Securities are set to acquire a combined 19.6% stake in South Korean crypto exchange Coinone for a total of $106 million. Each firm will invest $53 million in the deal, marking one of the most significant institutional moves into South Korea’s tightly controlled digital asset market. The investment deepens the link between traditional finance and cryptocurrency in a country known for its strict regulatory environment. Coinone is one of the major exchanges operating in South Korea, where all crypto platforms must comply with strict anti-money laundering rules and report to financial authorities. OKX Ventures is the investment arm of global crypto exchange OKX, while Korea Investment & Securities is a subsidiary of Korea Investment Holdings, a leading financial group in Seoul. Their joint purchase signals growing confidence among traditional financial players in the long-term viability of regulated crypto exchanges in Asia. The deal also highlights a trend of traditional finance firms entering the crypto space through minority stakes rather than building their own platforms. By investing in an established exchange like Coinone, both firms gain immediate access to the South Korean market without navigating the full licensing and operational hurdles from scratch. For Coinone, the injection of capital from both a crypto-native venture fund and a traditional brokerage provides liquidity and credibility. It also positions the exchange to better compete with larger local rivals like Upbit and Bithumb, which dominate trading volumes in the country. South Korea has been a hotspot for crypto trading but also a difficult market for foreign entities due to its unique regulatory framework. The partnership between OKX Ventures and Korea Investment & Securities could pave the way for more cross-border collaboration between crypto companies and legacy financial institutions. No timeline for the completion of the deal has been announced, but it is expected to close pending regulatory approval. Both sides have expressed optimism about the future of digital assets in South Korea and the role Coinone will play in that ecosystem.
